Bank of Russia’s key task is to reduce inflation to 3–4 pct – the nominee for the post of the CBR president Nabiullina

Also, Nabiullina believes that changing the economic model is a real problem for Russia

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MOSCOW, April 9 (Itar-Tass) – The key task of the Bank of Russia is to lower inflation to 3-4 percent, the nominee for the post of the CBR president, presidential aide Elvira Nabiullina, told the State Duma.

“Lowering inflation to 3-4 percent is the Central Bank’s number one task,” she said. “According to some estimates, non-monetary inflation today accounts for half of the inflation rate. There must be tighter cooperation between the Central Bank and the tariff control authorities.”

Also, Nabiullina believes that changing the economic model is a real problem for Russia. “Otherwise a 2-3 percent growth will be a norm,” she said.